AEDC plans Bell expansion

The AEDC is working on three projects in the area, President and CEO Richard "Buzz" David said. Those projects are Hilmar Cheese in Dalhart, Pacific Cheese coming to Amarillo and the Bell Helicopter expansion.

The Bell expansion is already in the works, David said. An additional 176,000 square feet will be added to the existing space. Cost is estimated at $22 million.

The additional space will help with building the V-22 Ospreys, David said. That project will bring an additional 300 to 400 jobs and be completed by mid-2009.

The AEDC targets companies that fit with the Amarillo economy, have growth potential and that could be successful in this market, David said.

Pacific Cheese, for example, was projected to be about 40,000 square feet of space and employ 70, David said. Now they are looking at 93,000 square feet and 100 employees. The jobs will be in Amarillo in late 2008 and in 2009.

"It's created a huge demand for dairies in this area," David said. "It's a great industry."

A lot of times, people ask the AEDC why a certain business doesn't come to town and why the AEDC doesn't recruit it, David said.

The AEDC focuses on primary employment, businesses that bring new revenue to Amarillo, David said. That money stays in Amarillo and is brought in by employees of these new companies and by the companies themselves.

"The better we are at primary industry, the more companies we will attract," David said referring to retail and restaurant space.

The retail companies will look at total jobs, total payroll, population and expendable income, among other things, David said. When the market hits certain levels, retail stores will come to Amarillo.

Places may not come to Amarillo because there is not yet enough demand for them, David said.

Another industry the AEDC is trying to recruit is wind energy, David said. This would not just be wind farms, but companies that make the components.

"It's definitely a target that's critical for this area," David said.

Right now, most of the components are made in Europe or Canada and shipped to various places, David said.

These businesses will help out the local economy, Karr Ingham, an Amarillo economist said. They will help out in a couple of ways.

First, the peripheral jobs that come with those industries will be good for Amarillo, Ingham said. The ripple effect is substantial.

The ultimate goal is to get more jobs.

Second is when there's a sense around town that Amarillo has a vibrant economy and a vibrant and proactive economic development group working hard to bring new jobs to the area, Ingham said.

That really lets companies know the city is looking for places to come here.

"The AEDC doing something to improve the economy of the region, I think that's an outstanding effort," Ingham said.